THE 'tude

Just one of the things we’ve learned from the pandemic is the critical importance of offering online services to American consumers, but even before this era of social distancing today’s consumers expected their financial institution to offer flexible services accessible anywhere, anytime and from any device. 

The crisis management team is in place. Communications and media plans are in motion. State and local government recommendations and orders are being monitored and implemented.

The $2-trillion stimulus measure approved by Congress and signed by President Trump on March 27 aims to relieve the severe economic agony brought on by the COVID-19 pandemic.

As we all adjust to the widespread implications of COVID-19, better known as the coronavirus, credit unions are concerned about the financial impact from lost jobs, shuttered businesses and social distancing. How will borrowers be able to pay back their loans if they’re laid off or experience a reduction in hours? 

As you might anticipate, I’ve been getting a lot of questions as of late over the current economic climate, what to expect, what institutions might do and what advice we can pass to our members as the nation navigates through our current crisis.